Coal India will increase spot e-auction offerings in the current quarter to 15% of the year’s production, a top company executive said. In the three quarters till end-December 2019, the company had offered about 12% of its production for auctions. Spot auction offers accounted for almost 46% of the quantity offered for auctions till December, while the rest was a mix of special forward e-auction for the power sector, exclusive e-auction for non-power and special e-auction. Till December, it had offered close to 46 MT through auctions, of which the booked quantity was 44 MT.
Coal India’s daily output is expected to rise to three million tonnes (MT) next month, enough to run a 660-MW power plant for a year as the state-run miner focuses on expansion of projects and increasing production
In January, Coal India clocked a double-digit growth in output for the first time in this fiscal. It now plans to increase stocks at thermal power plants to 30 days and reduce pending supplies to non-power consumers to zero by March
The report, India’s Renewable Energy Policy Headwinds – Recommendations for Urgently Accelerating Activity in the Renewable Energy Sector, finds a number of recent policy positions that have undermined growth in this sector.
India’s renewable energy sector requires $500 billion to $700 billion of new investment by 2030 to meet its massive target of 450 gigawatt (GW) capacity, according to the Institute for Energy Economics and Financial Analysis (IEEFA).
The Parliamentary Standing Committee on Energy has pulled up the Ministry of New and Renewable Energy (MNRE) for failing to meet the targets for capacity addition over years. The failure could hamper the efforts at meeting the larger national target of reaching 175 Gigawatt (GW) capacity by 2022, it has said.
The ministry could achieve only 11,319 Megawatt (Mw) of grid-connected RE capacity addition against a target of 16,560 Mw in 2016-17. It managed to achieve only 11,876 Mw of the targeted 14,445 Mw in 2017-18. Similarly, during 2018-19, only 8,519 Mw could be installed against the target of 15,355 Mw, a shortfall of 44.50 per cent.
Following the Union Budget announcement that photovoltaic (PV) cells and modules would now incur customs duty, the Ministry of New and Renewable Energy (MNRE) clarified that the effective basic custom duty would be zero. The Budget had a provision that levied a 20 per cent basic customs duty on PV cells and modules.
A notice issued by the MNRE also asked solar manufacturers to list items they would like to be exempted from the list.